When I first read of Columbia Community CU's conversion to a state-chartered mutual bank, I assumed that the credit union was struggling to survive in a competitive environment or that the credit union needed to increase its business lending beyond NCUA guidelines to survive or that there was some other compelling, dire financial reason. Has anyone looked at the financial situation of Columbia Community? I have. Here are the five-year averages of this credit union that needs to convert to a bank in order to survive.
Averages over the period 1998 – 2002
Asset Growth
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